Patel Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: (Click the icon to view the beginning of the year Information.) At the end of the year, the company had actually incurred the following: (Click the icon to view the ending of the year information.) Requirements 1. Compute Patel's predetermined manufacturing overhead rate. Beginning of the year information 2. How much manufacturing overhead was allocated to jobs during the year? 3. 4. How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? Were the jobs overcasted or undercosted? By how much? Manufacturing overhead cost $ Direct labour cost Machine hours 724,500 1,550,000 80,500 hours Requirement 1. Compute Patel's predetermined manufacturing overhead rate. Determine the formula to calculate the predictermined overhead rate, and then calculate the rate. (Round your answer to the nearest whole dollar.) Predetermined overhead rate per machine hour Requirement 2. How much manufacturing overhead was allocated to jobs during the year? Select the labels for the formula to calculate the overhead to be allocated, and then calculate the manufacturing overhead allocated. x Manufacturing overhead allocated Requirement 3. How much manufacturing overhead was incurred during the year? Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? Complete the following table to determine the total manufacturing overhead costs. (Leave any unused cells blank.) Total manufacturing overhead Is manufacturing overhead underallocated or overallocated at the end of the year? By how much? Manufacturing overhead was by $ Requirement 4. Were the jobs overcoated or undercoated? By how much? Jobs were by S Print Done End of the year information Direct labour cost $ 1,170,000 Depreciation on manufacturing plant and equipment Property taxes on plant 557,500 21.000 Sales salaries Delivery drivers' wages Plant janitors' wages Machine hours 27.500 16.500 10.500 64,000 hours Print Done